The provident fund and social security contribution ratio is freely chosen between 5% and 12%. The employer only contributes a certain proportion for employees, and the remaining proportion is still paid by the employees themselves. The individual contribution proportion is generally higher than the employer contribution.
Proportionately, when buying a house, many people will use provident funds to take out loans.
1. How to calculate the provident fund and social security contribution ratio? The contribution ratio of units and individuals can be chosen between 5% and 12%. The individual contribution ratio should be equal to or higher than the unit contribution ratio.
The monthly housing provident deposit amount consists of two parts: the employee's personal payment and the unit's payment for the employee. The calculation method is based on the employee's average monthly salary in the previous year and the payment ratio stipulated by the policy.
That is: (1) The monthly payment and deposit amount of the employee’s housing provident fund = the employee’s average monthly salary in the previous year × the employee’s housing provident fund payment ratio; (2) The monthly payment and deposit amount of the housing provident fund paid by the unit for the employee = the employee himself
The average monthly salary in the previous year × the unit’s housing provident fund contribution ratio.
The ratio of the employee's average monthly salary in the previous year to the local average monthly salary. If it is less than 60%, the minimum is calculated as 60% of the local average monthly salary. If it is higher than 300%, the maximum is 300%.
2. How to get a provident fund loan (1) Preliminary review.
That is, the Housing Fund Management Center will conduct a preliminary review of the materials submitted by the applicant, including the applicant's qualifications, loan amount, and loan term. After passing the preliminary review, the center will issue a collateral review and assessment notice.
(2) Assessment.
Applicants are required to go to the appraisal agency designated by the center with a mortgage review and appraisal notice to appraise the value of the house they purchased. Affordable houses do not need to be appraised.
(3) Review.
Relevant applicants bring the evaluation report issued by the evaluation agency and the preliminary review materials required by the center to the center for loan review.
If qualified, the center will issue a "XXX City Housing Fund Management Center Guaranteed Entrusted Loan Investigation Notice".
(4) Go through the guarantee procedures.
The applicant holds the "Notice of Guaranteed Entrusted Loan Investigation from the Housing Fund Management Center of XX City" and goes through the guarantee procedures according to the guarantee method of his choice.
If you choose the method of mortgage plus guarantee, the guarantor should issue a written guarantee letter; if you choose the method of mortgage plus insurance or third-party guarantee, you should go to an insurance company to apply for insurance or go to a guarantee institution to go through the entrustment guarantee procedures.
(5) Sign a loan contract.
3. How to Withdraw Provident Fund The process for withdrawing provident fund is as follows: (1) Employees go to their unit to apply for a withdrawal certificate; (2) The unit issues a withdrawal certificate after verification; (3) Employees bring their identity certificate, withdrawal certificate and other materials to the housing provident fund management
The center submits the application; (4) The management center will make a decision on whether to approve the withdrawal within three days of accepting the application.
Article 25 of the "Housing Provident Fund Management Regulations" stipulates that when employees withdraw the balance of the housing provident fund account, the unit where they work shall verify it and issue a withdrawal certificate.
Employees should apply to the Housing Provident Fund Management Center to withdraw housing provident funds with the withdrawal certificate.
The Housing Provident Fund Management Center shall make a decision on whether to approve the withdrawal or not to allow the withdrawal within 3 days from the date of accepting the application, and notify the applicant; if the withdrawal is approved, the entrusted bank shall handle the payment procedures.
The above is a detailed introduction to the relevant knowledge about how to calculate the provident fund and social security payment ratio. The payment ratio of the housing provident fund is freely determined by the employer and the individual themselves within the payment ratio stipulated by the state.